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Date Entered: 11/06/2013
Subject: 2012 Dec HRM Office & Industrial Demand
Attachment: 10.pdf (Original file name: 10.pdf)
Comment: The overall office market in HRM weakened over the past year, with vacancy increasing from 7.87% in 2011 to 10.28% in 2012. Dramatic jumps in the vacancy rate for Class A space in each of the Central Business District, and the City of Lakes/Dartmouth Crossing suburban business park, submarkets reveal a malaise that must be addressed Ė and soon. The enclosed press release results from what we believe is the most comprehensive survey of office and warehouse space ever undertaken in HRM. Completed recently for the Federal Government, the survey is the latest of fourteen studies which pour over the entrails of HRMís office and industrial rental markets to determine trends in vacancy, rental rates and operating expenses.